May 26, 2021

Northborne Transaction Announcement | Sale of SMART Management to Netalytics

MINNEAPOLIS, MN, May 26, 2021 – Northborne Partners acted as the exclusive investment banking advisor to SMART Management, Inc. (“SMART”) in its sale to Netalytics, a portfolio company of Prairie Capital. SMART and Netalytics are each industry leading providers of electronic health records (“EHR”) and practice management tools to providers of substance use disorder treatment, with a particular focus on those providing methadone maintenance therapy.

SMART and Netalytics were each founded over 25 years ago by David L. Piccoli, II and Mark Essex, respectively. Collectively, SMART and Netalytics serve hundreds of customers across the United States. The combination of the two companies will allow the combined operations to provide a collective best set of software features and solutions for its customers.

Mark Horvick from Northborne commented, “We are honored to have been able to represent SMART on its sale. Both SMART and Netalytics have outstanding products and outstanding leadership. I’m thrilled that these two market leaders have joined forces.”

Mark Essex noted, “I have had tremendous respect for David, his team and the SMART product for years. We could not be more excited about the transaction and bringing the SMART team together with the Netalytics team.” David L. Piccoli, II added, “Netalytics is the perfect partner for SMART. We’ve been respectful competitors for years while always sharing a commitment to do our best for our customers and employees. Together, we can serve our constituents even better.”

In addition to Northborne Partners, SMART was advised on legal matters by Hinckley Allen on the transaction. Netalytics and Prairie Capital were advised by Bass Berry & Simms on legal matters.

About Northborne Partners LLC

Northborne Partners is a preeminent middle market investment banking firm focused on providing sell-side M&A advisory services to privately held companies in the food & consumer, healthcare and industrials sectors, among others. It focuses on helping owners sell their businesses and has decades of experience sitting across the table from the most seasoned strategic and private equity buyers. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit https://northborne.com/

About SMART Management

SMART Management is a cloud-based EHR and practice management software solution for substance use treatment providers. The SMART solution was initially developed by David Piccoli II as an internal clinic management tool in 1991 while running Discovery House, a clinic-based provider of Medication Assisted Treatment (“MAT”). The software was purpose-built to optimize clinic operations across every functional area, including pre-admissions, admissions, clinical and medical treatment, billing, regulatory and reporting. At the time of its sale to Netalytics, SMART was a trusted partner to over 100 substance use treatment facilities across the United States. SMART is headquartered in Providence, RI. For more information, please visit https://smartmgmt.com/

About Netalytics

Netalytics is a provider of EHR and practice management solutions to the substance use disorder market focused on Opioid Use Disorder (“OUD”) providers. Netalytics’ comprehensive purpose-built solutions provide a wide array of functionality, including managing inventory, controlling dosing, and tracking regulatory compliance. Over the last 25 years, Netalytics has developed a complete software suite along with multiple add-on modules to assist providers with optimizing their operations. The Company has customers in every state that has Opioid Treatment Programs (“OTP”) and serves smaller OTPs and large national providers. Netalytics is headquartered in Greer, SC. For more information, please visit https://netalytics.com/

About Prairie Capital

Prairie Capital is a private equity firm making control equity investments in successful, growth-oriented, lower middle market companies in the healthcare, business services, education, consumer, and industrial sectors. The firm leverages its 20+ years of experience and more than 90 platform investments to provide the resources and guidance necessary to enable companies to scale and thrive. Prairie Capital is headquartered in Chicago, IL. For more information, please visit https://www.prairie-capital.com/

Website includes transactions completed by Northborne professionals at prior firms.

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